OREANDA-NEWS. August 9, 2012. Sumitomo Corporation (Head Office: Chuo-ku, Tokyo; President and CEO: Kuniharu Nakamura), I.C.C. International Public Company Ltd. and Central Retail Corporation Limited have agreed to enter into a further discussion about establishing a new TV home shopping company in Thailand.

Sumitomo Corporation have been managing Jupiter Shop Channel co. ltd, a leading pioneer of TV home shopping in Japan, since its establishment in 1996. For further growth of Jupiter Shop Channel co. ltd, they have been seeking for opportunities to expand its business to Asian countries. I.C.C. International Public Company is a consumer products distributing company of SAHA group, one of the major conglomerates in Thailand, and Central Retail Corporation is a retail arm member of Central Group, one of the largest and most successful conglomerates in Southeast Asia today. Both the two companies have broad experience and knowledge about consumer market in Thailand. Supported by the steady rising of income levels, Thai consumer market is one of the most growing markets in Southeast Asia, and the consumer preference in Thailand is becoming sophisticated and diversified by the expansion of middle and upper class in recent years. By leveraging each of the Sumitomo Corporation, SAHA group and Central Retail Corporation's strength, the established company aims to generate THB 5 billion sales in its fifth year while becoming a leading TV home shopping company in the country.

Sumitomo Corporation will lead the management of the new company with Jupiter Shop Channel co. ltd through applying the business know-how that has been cultivated through the experience of managing 24 hour live broadcasting TV home shopping business in Japan.

Sumitomo Corporation sets "Enhancing integrated corporate strength on a global basis" as an action plan for the medium-term management plan f(x)(FY2011-2012). Media, Network & Lifestyle Retail Unit will continue to seek for a dominant business partner within Asia in likewise this case and will accelerate expanding its successful retail business model to overseas.